Boeing

When Embraer spinoff Eve on Dec. 21 confirmed plans to combine with Zanite Acquisition Corp., it became the sixth company in the urban air mobility space to link up with a special purpose acquisition company (SPAC). Rather than speak to the continued strength of SPACs, however, the deal illustrates the funding vehicle’s decline as an ample source of outside capital — even as it cements Embraer’s strategy of using partnerships to expand into new markets.